Alliance Semiconductor (ALSC) is a Delaware corporation. The Company recently sold off the balance of its AMBAC preferred securities for cash and is no longer part of any litigation with AMBAC Assurance.The Company is currently examining all options and alternatives for maximizing value of its shares for all of its shareholders. Alliance is in the process of completing a 382 study to understand the status of its net operating losses (NOLs). Under the Section 382 rules, a change in ownership can occur whenever there is a shift in ownership by more than 50 percentage points by one or more five-percent shareholders within a three-year period.

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